Which Bank is best for Current Account?

Which Bank is best for Current Account?

Score: 3 Votes: 3
Score: 3 Votes: 3
Score: 3 Votes: 3
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Deal Subedar
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I want to open a current account for my business. Which bank would be best for a current account.

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23 Comments  |  
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Missing
Deal Lieutenant
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@Conman

Usually the trick is to open an account in a smaller branch of a nationalized bank. By doing this you can maintain good relationship with the branch employees and the manager. Also if you deposit cash regularly depending upon the locality the queue might be less. Also for heavy cash they would get you into the backroom (not strong room) and get your transaction done.

Edit- By the way if your balance is less than the cheque amount they would hold it without rejecting the cheque as insufficient funds. They would call you and wait for you till the EOD but everything depends on the quantum of business/good will with them.

Mustaches dp
Deal Cadet
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UCO BANK. U can maintain min 5k

Giphy
Deal Subedar
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Kotak bank

Kanz
Deal Subedar
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Kotak jifi current is good, zero rupees maintenance account

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Deal Captain
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@kanz wrote:

Kotak jifi current is good, zero rupees maintenance account


But Ji-fi is for personal use or for business use? https://cdn1.desidime.com/assets/textile-editor/icon_confused.gif

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Tejaa
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@BUTTERFLYBOY wrote:


But Ji-fi is for personal use or for business use? https://cdn0.desidime.com/Placeholders/No-Image-Available.png

Yeah… Not a best choice for business, As jifi charge for cash deposits

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Deal Captain
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@Tejaa wrote:

@BUTTERFLYBOY wrote:


But Ji-fi is for personal use or for business use? https://cdn0.desidime.com/Placeholders/No-Image-Available.png

Yeah… Not a best choice for business, As jifi charge for cash deposits


Its actually only good for earning rewards for personal use. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Break the bottle
Deal Captain
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SBI Current account min QAB (Quaterly Average Balance) is Rs.10,000/-.

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Moderator
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@gambitrite wrote:

SBI Current account min QAB (Quaterly Average Balance) is Rs.10,000/-.


+1
Currently using SBI Current account, felt much better in Govt wala(SBI, Andhra bank, PNB etc). In few days might have to use Kotak or HDFC!

What All Features are you using with Current account? Verify these

1)Cheque book ( Any limitations? and Price?)
2)Internet Banking with various facilities
3) Debit and Credit Cards
4) Mobile Banking including Mobile app accessibility
5) POS Transactions machine for Swiping and its charges
6)Free Statements ondemand Online and Offline
7)Free Transfers/Deposits like NEFT,RTGS?
8) * To be Added

Few Links useful for this discussion.

HDFC: http://www.hdfcbank.com/personal/products/accou...

ICICI: http://www.icicibank.com/business-banking/curre...

AXIS: http://www.axisbank.com/personal/accounts/curre...

KOTAK: http://www.kotak.com/sme-banking/current-accoun... ( So many plans in Kotak Have a Look! )

SBI: https://www.sbi.co.in/portal/web/personal-banki...

UBI: http://www.unionbankofindia.co.in/personal_regu...

CITIBANK: https://www.online.citibank.co.in/products-serv...

IOB: https://www.iob.in/Current_Accoun...px

AB: https://www.allahabadbank.in/english/Normal_Cur...

Syndicate: https://www.syndicatebank.in/english/CurrentAcc...

Yes Bank: https://www.yesbank.in/business-banking/current...

#BookmarkedThread

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Deal Captain
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This does depend on the type and more importantly the scale of business you run…

Secondly, the distance of the bank branch from where you run/operate your business matters- the closer the better.

(Let the minimum balance required not be the deciding factor)

Draw
Deal Colonel
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@rossonero wrote:

This does depend on the type and more importantly the scale of business you run…

Secondly, the distance of the bank branch from where you run/operate your business matters- the closer the better.

(Let the minimum balance required not be the deciding factor)


Technology and app used by bank
+ features available in app/website
Matters.

Missing
Deal Newbie
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A conman looking for the best current account? Something fishy https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Deal Subedar
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Business na kare aur khub transaction kare current account m to lafda hoga kya ?

Pan Number to dena padega na

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Deal Captain
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@blue wine wrote:

Business na kare aur khub transaction kare current account m to lafda hoga kya ?

Pan Number to dena padega na


Kya karne wali ho aisa? 😩 😮 😯 😰 😕

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Deal Subedar
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@hese wrote:

@gambitrite wrote:

SBI Current account min QAB (Quaterly Average Balance) is Rs.10,000/-.


+1
Currently using SBI Current account, felt much better in Govt wala(SBI, Andhra bank, PNB etc). In few days might have to use Kotak or HDFC!

What All Features are you using with Current account? Verify these

1)Cheque book ( Any limitations? and Price?)
2)Internet Banking with various facilities
3) Debit and Credit Cards
4) Mobile Banking including Mobile app accessibility
5) POS Transactions machine for Swiping and its charges
6)Free Statements ondemand Online and Offline
7)Free Transfers/Deposits like NEFT,RTGS?
8) * To be Added

Few Links useful for this discussion.

HDFC: http://www.hdfcbank.com/personal/products/accou...

ICICI: http://www.icicibank.com/business-banking/curre...

AXIS: http://www.axisbank.com/personal/accounts/curre...

KOTAK: http://www.kotak.com/sme-banking/current-accoun... ( So many plans in Kotak Have a Look! )

SBI: https://www.sbi.co.in/portal/web/personal-banki...

UBI: http://www.unionbankofindia.co.in/personal_regu...

CITIBANK: https://www.online.citibank.co.in/products-serv...

IOB: https://www.iob.in/Current_Accoun...px

AB: https://www.allahabadbank.in/english/Normal_Cur...

Syndicate: https://www.syndicatebank.in/english/CurrentAcc...

Yes Bank: https://www.yesbank.in/business-banking/current...

#BookmarkedThread


No need of POS swiping machine. I am starting online selling business.
Is it better to have a partnership firm or as an individual?

Break the bottle
Deal Captain
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@Conman There has been certain changes in the past few years & now you can even form a OPC (One Person Company) or LLP or Private Limited as per the type of business you will be running, the no. of partners, amount to be invested & expected turnover.

Missing
Deal Subedar
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Also check Bandhan Bank
Samriddhi is best suited for individual
http://www.bandhanbank.com/samriddhi-current-ac...
AMB – 5000
Pass Book Facility
Monthly e-Statement of Account – Free
“At-Par” Cheque Book Facility
50 cheque leaves per month free
Branch Cash Deposit Facility up to ₹ 5 Lacs per month free
Unlimited Branch Cash Withdrawal transaction free per month
Free – Fund Transfer Facility –5 IMPS/ RTGS/NEFT/DD per month
Free Cash withdrawal at other Bank ATMs – 10 Transactions per Month
DD / PO Facility
Net Banking Facility
Transaction Alert Facility

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@gambitrite wrote:

@Conman There has been certain changes in the past few years & now you can even form a OPC (One Person Company) or LLP or Private Limited as per the type of business you will be running, the no. of partners, amount to be invested & expected turnover.


True. But having registered my first Pvt. Ltd. business way back in 2009 and gone through hassles of ROC and tax filing requirements for many years, I now recommend all new entrepreneurs to start their business as sole proprietorships. No sense in adding the accounting and filing burden before you even start making a decent profit. Let’s not forget the sizeable fees that the CAs charge just for their signature and stamp in the name of a mandatory audit. CC @Conman

Kanz
Deal Subedar
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@blue wine wrote:

Business na kare aur khub transaction kare current account m to lafda hoga kya ?

Pan Number to dena padega na

Don’t exceed 10L in a year

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Deal Captain
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@DealSeeker wrote:

@gambitrite wrote:

@Conman There has been certain changes in the past few years & now you can even form a OPC (One Person Company) or LLP or Private Limited as per the type of business you will be running, the no. of partners, amount to be invested & expected turnover.


True. But having registered my first Pvt. Ltd. business way back in 2009 and gone through hassles of ROC and tax filing requirements for many years, I now recommend all new entrepreneurs to start their business as sole proprietorships. No sense in adding the accounting and filing burden before you even start making a decent profit. Let’s not forget the sizeable fees that the CAs charge just for their signature and stamp in the name of a mandatory audit. CC @Conman

That’s a good info for me. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif

Hiqi
Deal Cadet
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Yes bank for current accounts
&
Power bank for current https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

150g667098
Deal Cadet
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@hiqi wrote:

Yes bank for current accounts
&
Power bank for current https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif

https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn3.desidime.com/assets/textile-editor/icon_wink.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Missing